160 Flips in 4 Years "Double Flip" | Your Biggest Deal ep.1

Joseph Williams: 0:00

Welcome to your biggest deal podcast, with Joseph Williams. Connecting you with top real estate professionals and entrepreneurs from around the country about the deals, strategies and motivation that made them successful and will help you reach the next level. This is your biggest deal with Joseph Williams. Wow, we just finished up with John Schoeller out of Charleston, West Virginia and learned about his multiple faceted real estate business. Touch base real quick on the deal. So nice, they flipped it twice. So they actually flipped the same house twice over a couple year period and profited both times. So definitely a unique story there. He also talked a lot about being being the go to person and in your community. And I think the tips that he gives her the minutes, or just are just excellent about how to connect and shake hands with people. So without further ado, here's John shoulder. Let's welcome John shoulder to the your biggest deal podcast. He's a real estate investor based out of West Virginia, I believe. So John, if you could just kind of kick it off and tell us who you are, where you came from? And kind of what got you going in your current trajectory within your investing?

Jon Schoeller: 1:21

Yeah, Joseph, I appreciate you having me on. So yeah, I am primarily a real estate investor. And I'm a private money lender as well and several other businesses. But this being a real estate podcast, we'll keep it focused on that. So I joined up with my partners here in Charleston, West Virginia, about four and a half years ago, we moved here from my wife to go to nursing school. She has since graduated and working locally. And about four and a half years of investing with my partners, we've now flipped over 160 homes together. We have some rentals, we have some RTO homes, and we do some wholesaling as well. And that's what we do. And then my wife and I are also private money lenders inside of the company.

Joseph Williams: 2:01

Yes, it sounds like you are pretty well established and all different aspects of real estate. You know, kind of one leads to another a lot of times when you're starting to flip, you're like, well, let's get control our own deal flow. Let's try to do a little try to find some deals to wholesale. This one doesn't work for us. We're going to wholesale out instead of keeping this one for a flip and whatnot. So that's something to always look at doing as well for sure. So when you when you look at real estate in the Charleston area, you move where do you move from to get into that? So we

Jon Schoeller: 2:35

actually moved from Charlottesville, Virginia. So well, that's that was our home base, but we were doing travel nursing, my wife was a traveling nurse before that. So we lived in a few places in California Palo Alto, Los Angeles, Pacifica and then we actually lived in Maui for three months, and then DC. And then finally she applied back to go to grad school for nursing, nursing anesthesia. And that's what got us here from Marshall University.

Joseph Williams: 3:03

Oh, awesome. Yeah, my wife's a nurse, and maybe I need to tell her to start doing a travel. So we can get him out.

Jon Schoeller: 3:09

Yeah, it's the greatest thing about I mean, they paid for where you live, they pay you a higher salary and pay for your moving expenses.

Joseph Williams: 3:17

Yes, you. Obviously we're kind of in this COVID, post COVID world right now. And a lot of people they're on contract, ya know. And we're based out of Richmond, Virginia, so she works in here in Richmond, and we're not too far away when it comes to that. So when it comes to your biggest deal, you said your big your biggest, biggest deal, I guess, was involved with a private investor. So you kind of didn't want to go down that road. What deal did you want to tell us about today?

Jon Schoeller: 3:45

Yeah, so I guess, to explain that a little bit further, we do work, we work primarily with private money. So all of our deals are funded through outside investors, just people, not banks, not institutions, not hard money. So some of that we respect the the lenders and keep their privacy, you know, when deals and things you know, people don't want to know what they're making and all that which is understandable. But what's nice is my wife and I, like I said, we're private money investors inside the company. So I can devote devote those numbers, no problem. So the deal that I was going to talk with you about, we'll call it glow drive. That was the that was the address. And this one's interesting, because like I said, I joined up with my partners about four and a half years ago. And they had been flipping for about two years prior to that. And this house, they had actually flipped before and it came up as a foreclosure. We got a call from the bank. So it was gonna go up. And we were like, Wait, Andrew, well, my partner said, I think I know that address. And I'm sure enough, we look it up in our before folder, where we keep all of our properties. And sure enough, it was the same house again. So what happened was they actually flipped it, sold it, then that owner sold it to somebody else. And then that person actually got foreclosed on. And we went in and scooped it up again and I actually have all the numbers and stuff if you want to go over them. I don't know how much detail you went on the deal. But it was a fun one and we gross profit was actually nose after religion and closing costs and everything made about 61,000

Joseph Williams: 5:10

Yeah, that's, that's a good 160 I love it when I always try to tell people and myself is always underwrite very conservatively, right. So I'll always go in like, I know I get 30 out so and then like, especially in this market, it's like, maybe I can get 40 wait a couple more months now the marches keeps going up, up up, I think I'd get 70 for this keeps going and going. Now, I'm I'm interested in, first off what the partners have bought it for originally, and then three and a half years later, what the bank end up selling to you again for how

Jon Schoeller: 5:49

I actually don't have the first numbers I wouldn't have, I wouldn't have those available, I'd have to I might be able to get back into Dropbox and find that. But the numbers on our deal, I have them right here. So we actually picked it up for $136,000 is what we bought it from bought it for. And keep it keep in mind the value in this thing was about 240. So 136. And it already been flipped. So it didn't need a lot of work. So we only had to put $22,000 into it and that we went fast on this one we didn't nickel and dime the contractors, we knew the margin on it. And we just wanted to go fast. So we did paint for granite appliances. And of course, we had holding costs and stuff like that. So we were all in for about 158. Seven, we sold it for 240 After closing costs and realtor which is about almost 19 grand, our gross profit on it was 61 360 $1,300. And we did this quickly, I think the whole deal was like three months. And the only reason it took that long as I'm sure you know this, some lenders make you hold the property for 90 days before you can sell it again, some loans for the from the purchaser standpoint. And so we did have to wait to close it. And that ran and I put up all the money. So it was 158 Seven all in. And we typically do a third on the deal. But because this was a layup for the company, we agreed with Stephen Andrew that we would fund it at 25% of the of the profit. And so Rihanna and I made 15,300 which was just to us not to the company, but just us was a 30% annualized ROI. So

Joseph Williams: 7:19

that's awesome. That's a great return in that timeframe. Just something to call out. You know, a lot of people don't realize that a quick flip is three months, you know, they think all flips are three months, you know, really it's really around six, yeah, a normal flip and five, four to five. That's pretty quick. What you did here was, you know what I call it lipstick. People forget, you know, inspections, 30 days to close 45 days of closing your case, you had to deal with an FHA loan where you have to own the property for at least 90 days, I saw one a couple of months back where it was around that $70,000 mark. And not only did we have to wait for the timeframe, we all they also hit me like I think the Friday before a Monday close or a Thursday before Monday close that they wanted to have a second appraisal because the price had increased so much. So then, so I get a call at three o'clock on a Thursday, then we have to wait action that has to go back to the bank ended up pushing it back like another 21 days, like business days. So basically a whole nother month. You know, I was like, Oh, my goodness, you're on me like you're ready, you're ready to finally get the check after all the hard work. So yeah, well, congratulations on that. That's awesome. So when you want to want to go back to that you said the bank calling you. So how did you create that relationship with the local bank? How do they know how to call? How did you interact with them? Because most people, especially in this crazy market, we're in now, foreclosures are gone. Yeah, no, I mean, you see some stuff on Zillow or something like that. That's pre foreclosure. Odds are if you're not buying it literally at the courthouse steps via auction, which those prices have kind of gotten out of control to how do you put yourself in a position to have a partner with a bank or have the bank reach out to you before it goes to the public?

Jon Schoeller: 9:11

It's actually super simple shake hands, shaking hands, you need to go into every bank, especially your local banks, the bigger banks are going to be harder. Of course, they have so many layers to get through. But your local banks, oftentimes the people that deal with these or make the decisions on them are working in that back office of that of that community bank. So go in there, shake hands, tell them what you do. Tell him you know, we're serious cash buyers. If you guys have a property, you can't get rid of it. You want to get rid of it or you don't want to take it back. You know, sometimes the banks, a lot of people don't understand this, but banks are in the real estate business. They don't want real estate, they just want the loans. They want to make money on the money. They don't want anything to do with real estate. And oftentimes they don't even understand the market. They don't understand the values like they're going off of the appraisal the appraiser they don't them themselves don't understand they're not in that game. Banks say LM money. And so that's why they want to get out of these properties quickly, especially if it's rundown or beat up. They don't even want to take the time to like, get it ready to list again. So they'll call us and just say, Hey, you guys interested in this, and let's walk through it. And so that's what we did. We shook hands with every community bank inside of our area and other police people to shake hands with lawyers, divert divorce lawyers, almost any type of attorney, tax people. Money management people, anybody that deals with real estate, or property or people with money, they need to know who you are and what you do.

Joseph Williams: 10:34

And there's a, there's a YouTuber out there, I guess he's a guru, probably at this point, based on that Phoenix marker, Phoenix Phoenix market, and he says TTP, baby TTP talk to people, just tell him what you do, shake hands. And I mean, you're just, you know, reverberating that to our audience here. You know, that's something that in all reality a lot of people get better at. It's hard to do when you're new, right? To just walk in and say, I'm an investor. So I would, I would recommend, you know, getting a couple of deals under your belt. And then, you know, actively trying to build those relationships, just so you can be a little bit more educated, you know, with how things are going, you've got your team in place, you've got your lenders in place, things like that, to make that deal with a bank or a probate attorney, or whoever it might be. Go super smooth, right? Because that's what they

Jon Schoeller: 11:28

want, no matter what you do. Keep your word yes, the biggest thing. So if you tell the bank, you're going to buy it, you better buy it. Because if they're not going to keep calling you like, you're not going to not going to keep wasting their time, in some forms. Even if, let's say that they you finally got the bank to call you to meet you and do a deal. And the deal is a little tight, it works. But it's a little tight in which the margins were a little bit better. Keep in mind, that's an investment. So you bought that first deal from the bank, and maybe your margin, maybe your normal margin is like I gotta at least make 25. And on this deal, you're only making 20. Well, that $1,000 difference is going towards buying a deal from the bank and establishing a relationship, that now they'll send you more deals because you bought from them, you kept their word, your word, and you didn't waste their time. And so that's

Joseph Williams: 12:11

because they're calling you because they want to hit the easy button. Right? You know, I mean, that's the easy button for them having to, you know, go through the whole process, like you said, for pit, make repairs, hiring contract, get the grass cut the summer, you know, I mean, I was looking at a foreclosure, vacation style home on the river, and I talked to the guy, he was cutting the grass, and I was like, Hey, give me a little, you know, insight or whatever. He said, I don't know, I've been cutting the grass here for eight months. And this is like this is an acre$1,000 house, you know, that was on the auction block. Sitting on the reason he's been cutting the grass for eight months, it's been vague that he knows about, you know, so it's like, what are the other carrion calls with a property like that? You know, a million dollars sitting there to the bank. But yeah, great advice to anyone out there. It's not only a, you know, generating leads yourself via however you're doing it online or direct mail or whatever. It's really partnering with the people around you, and creating that community for you to be the solution. We don't like when the time's right. And John here named a lot of great resources there. And because they're selling them to somebody, so you want to put your head in the game. Yeah, not just

Jon Schoeller: 13:24

locally. I mean, we surprise people, we probably ruin pace. This month. We bought about a house a month. So we're averaging about a house a month. Our goal was 40 houses a year. So we're actually a little bit ahead of pace on that one so far, but sorry, about 40 hours a year. And we're a little bit ahead of pace, but a lot of people were surprised. We're like, what did y'all what do y'all do for marketing? What's your marketing budget?

Joseph Williams: 13:45

That's amazing. You've been correct. Yeah, yeah.

Jon Schoeller: 13:50

About a house a week. And we we haven't spent we haven't outside of our hosting our website, I guess. We have, yeah,

Joseph Williams: 13:56

but you're talking in comparison, hosting a website, just that's just that's just like the Yellow Pages nowadays, right? Yeah. Or whatever, back in the day, where you're looking at your people that are wholesaling. Or they're just trying to feed their funnel into larger organizations, where they're spending 10s of 1000s of dollars every month just on direct mail, just on pay per click. So being at a generate that word of mouth and being considered and all reality a local, a local resource for the community and being known and in the community.

Jon Schoeller: 14:34

Our Facebook page has a little bit over 13,000 followers. That's amazing. Yes. And at least 10,000 are local. We post on there we do coming soon videos we do. You know, we just stay active. We have an Instagram page as well. And it just once you're known locally, you just just want to become omnipresent. They call it like anywhere that anybody thinks of you. They when somebody thinks of selling their home, they think of your company. It's the first thing that comes to your mind and you got to get as quickly as you can, it's gonna take time. Keep in mind we've been doing this four and a half years with me in the borders, but about six, seven years total, locally and I would say that we're probably the biggest flippers. I'm not sure about in the state that'd be hard to determine but definitely locally,

Joseph Williams: 15:15

I would have to manage it because Charles Charleston's Is it the biggest city in West Virginia?

Jon Schoeller: 15:20

It's one of the biggest cities but it's still I mean, it's still only when it was like 60,000 people. Yeah,

Joseph Williams: 15:25

definitely bigger than Beckley. Yeah. If you're looking for good whitewater rafting There you go there. Yeah. Oh, it is. It's amazing. Yeah. What was it wild and wonderful. Plus, Virginia? Yeah, I'm just done in Virginia. So all we got to do is just pop across the mountain there. Um, so we always like to ask, you know, how you're pretty established. But when you first started started out, and maybe it was the big monetary deal with one of your investors? Like, what's the what, what changed your mindset? Or how did it change your life? Focusing on real estate, you said you own a lot of business. So it doesn't really sound like you came from the corporate w two two world and snuck out and, and went down that it sounds like you were entrepreneur from heart at heart, even before you knew it. And you had moving companies and you know, the sword and everything else at jail, maybe. So, you've been in a lot of things to do that really made you focus in on real estate.

Jon Schoeller: 16:25

So it's probably my wife and I was first investment through the company. So we were, I was just getting my bearings were probably I don't know, three or four months am and my new partners, and I was watching how it works. So we bring in the private money, we buy the deal, the private investor would some of our private investors don't even look at our deals. They just trust us now, right? Of course, we send them we do the deal we vet for them, we send them to do the property, the numbers, but they don't come look at the houses anymore. They don't have the time. And I was like, so one of our biggest investors in the company, or biggest investor, I saw the checks going out to him for deals he's never looked at. And I was like, Rihanna, my wife, I was like, we need to just do this. Alright, I know, scary, but we need to do it. We got a ton of cash sitting here, relatively speaking. And we're very conservative with our money. And we're for the lack of better, we're scared, right? Watching it work. And I'm how I'm doing it. I'm now I moved into like the Chief Financial Officer role pretty quickly inside the company. And I was like, I'm seeing the money. I'm controlling it, I'm helping with this works. People are doing this. So we were out there looking at a house and and we walked out to the truck knew my partners and we're like we could do this do we could buy this house is a big ranch. It was like, almost 3000 square feet with a swimming pool. And we're running the numbers. And we're like, what wonder we get as an investor. And I was just like, I'll do it. And I think the partners were taken aback because I didn't really tell them how much money I had sitting around. Right. So this, they're just the purchase was 115,000, which in some markets is nothing. But it's a big cash investment for your first big deal. That's a lot of money. So I said I'll do it. And they're like you Sure. And I was like, I'll do the deal, right? And I did everything on this deal, right? Because I was so scared. And I was just learning my partners, right? So did I trust them entirely? No, we were just getting started together. I managed it was a it was a lipstick perfect. So we just kind of put carpet in there. And I focused on cool. I made the pool really nice. Like the Caribbean water that was going to be and it worked. But it was basically a one, I think it was a 115 purchase. We put maybe five to 8000 in it. And we're going to put it back up from 160 was worth 240. But it needed a lot of work. So I've managed to all this manage the windows that need to change out the floor in one room and did the pool right. I'm out there every weekend. And then I also sold it. So I did an open house. I did three open houses. And I sold it off market which helped again with my returns because no realtor and I did the whole process. I think I made on my investment on reenergized investment on 115. I think we made like 10 and about three months. And I was like oh, and that's without I was actually putting time into it. But it was still a great return. And I was like yeah, okay, I think we can do this. So that was being super nervous on one deal I have 115,000 out to now that ran and I probably we're probably a funded not just in the company but on outside deals as well. We refund anywhere from four to seven houses at a time upwards of over 600,000 in cash out at any given time. So that's that's how it escalated and now you know I'm I'm making what some would call a good salary, just one passive investment.

Joseph Williams: 19:43

Yeah, that's amazing. And that's a whole aspect of it that a lot of people don't really even think about when they're entering the real estate world. And now that I've been in it for a while, you know, I've been introduced to people if some, someone say, Well it's hard money, but When it's coming from a guy down the street, I consider that private. Yeah, you know, some people say private money is just like, you know, your friends dead or whatever. Private money to me is localized money that you can go shake hands with hard money when you get on the internet, find some company that lends you 10%, or whatever it might be. But yeah, I've met these guys, you know, they're lending between eight and 10 points to people that walk up. Originally, you might get a better rate after a while, but it's not going to be much. But what people don't think about is like, what you said is that you got, let's just say 10% return on your investment, or 8%. But it only took me three months. So like, if you're gonna take an argue with me, like, oh, well, you know, the stock market average of the last 100 years a 7%, return this and then it could be more, but that's over a year, what what you just told me is that you can turn that four times in a year, or maybe I say it took four months, three times in a year. So really, your 10% of investment gets triple to 30%, or whatever it may be. And really, you know, unless you're just a magic stock picker, there's not many returns that can keep up with that with that kind

Jon Schoeller: 21:06

of secure, yes, secure an asset.

Joseph Williams: 21:09

Exactly. So worst case scenario, you foreclose on it, you have the house, and you have the knowledge of how to repair it yourself, and resell it for more money if you have to, because you guys already have the business in place. So kind of goes back to what we're talking about the beginning. You know, one thing kind of leads to another, and like you said, you sold it yourself. Recently, last year, I wouldn't got my real estate license, because I'll just, I'll just list our flips. Yeah, no, it's that easy. And I think the minimum commission to the brokerage is like 400 bucks, or $368, or something like that. So no longer having to pay that 1020 grand, and on the on the sale, as well. So amazing, something that everybody should keep in mind, just like any business, it's multifaceted. And you you know, you can go in a lot of different directions, you know, you've got your your bread and butter, kind of like what the business started as, and you're really good at flipping, buying rent to owns, and then you go on your pipeline, and then you're wholesaling some properties, you guys that don't make sense for you guys, you're lending on the side. So there's a lot of different income streams coming in, that helps everybody grow and, you know, grow their riches, I guess you would say. So you've described a couple of different models of how you guys go. Go to Bat when it comes to business? What what would be some advice you could give someone that wants to do what you're doing, and maybe they're just starting out, and they've only got a couple of deals under their belt? And like you said, scared money, don't make money, as you know about kind of being confident what they're doing, and modeling for someone like you.

Jon Schoeller: 22:54

Yeah, so first of all, the biggest advice I give anybody is get around the right people as soon as possible. If that's networking events, and if the group you're around right now is just talking about it, and you've been talking about six months a year, chances are, you're never going to do it. So get around people that are are doing it that are already doing that planning on doing it, but are already doing it and be of service to them someway. Somehow everybody needs something, prove yourself to them, prove your value, get around them. And and that will that will speed up the process of getting to your ultimate goal of getting started with this. And yes, being confident is key. Confidence comes from experience and education. You won't have the experience out the gate, but you could be educated. So read the books, watch the podcast, watch stuff like this, get on bigger pockets, educate yourself on deals, know the lingo know how to speak. And that way, you don't really want to fake it till you make it but you want to have the confidence when you talk with people that you have done your research that you do understand what ROI means that you do understand what a foreclosure is. So when you have these general conversations with people that you're just meeting, even if you've haven't done a deal, at least they know you're educated on it, because that saves them a lot of time and educating you on trying to they just don't have the time people like this don't have the time. You need to be nice to them, not the other way around. You will reciprocate. If you help somebody out, if you help enough people with a quote, If you help enough people get what you want, you will get what you want in return in abundance. Right? So that's what you need to do.

Joseph Williams: 24:22

Yeah, that's all great advice. And it's something else that I know you used to do. I'm not sure how much you're involved in it anymore. But doing a lot of things yourself. Right, that makes you confident knowing I'm not saying you know, you have to replumb an entire house something something Yeah, but but getting in there getting dirty start now. You know, and that helps you with you know, contractors and, and being able to estimate your numbers and things like that knowing the real costs and labor behind certain things. Things that really aren't that hard like changing an outlet or something, you know that you can just knock knock out pretty quick. Starting out all that stuff come together and helps you build confidence and education to a point, right? Because a lot of people have analysis paralysis where they they're what they've watched for 100 episodes of bigger pockets, and still haven't bought a three bed two bath rancher. Yeah. Now. So educate yourself enough that when the time is right, you can take action and pull the trigger to buy that house. Right? Because there's never this perfect, perfect deal.

Jon Schoeller: 25:30

If you pull the trigger it gets with somebody. Yeah, that's right.

Joseph Williams: 25:33

That's right. All great advice. Thanks, John. And so what you kind of touched it, you said your ultimate goal, what is the ultimate goal for you and your partners, as individually

Jon Schoeller: 25:48

get this thing on cruise control. It used to be flip 100 houses a year, but we've seen like the scalability is kind of difficult, not really, they're not really worth our time invested. So I think if we can average 30 to 40 hours a year, but have it on cruise control and didn't do our outside businesses. I think that I think that would be the goal for the flipping company. I think that we're all focused now that we're getting a little bit older and have some cash to spend. We're focused on building our rental portfolios, and having that, you know, more passive income.

Joseph Williams: 26:16

Yeah, so, so what's what's your long term business goal? For you and your partners?

Jon Schoeller: 26:23

Yeah, so it's definitely getting the business on cruise control. And just, like I said, flipping about 40 hours a year with with a team in place, so that we're not always hands on, you know, maybe we go in the office once a week or twice a week, we're slowly getting there. I mean, it's hard, it's hard to find the right team and the right people. But that would be that role transition into buying more rentals. And my wife and I are torn between buying more rentals and just becoming private money lenders. The UPS, there's a higher upside probably to the not probably there's a higher upside to having the equity in all your deals and your rentals. And it's something that can be passed on. But you can get easier than private money lending, you just you just can't you, you can make outstanding returns. Actually, I know a guy, he lives in Michigan, he had over 100 and some rentals, he sold every single one of them and just turned into private money. He's now all I do is manage the money that's in all of my clientele. He said, I'm gonna lose on some deals, I've calculated that somebody's gonna rip me off. But all of my clientele you know, 98% are people that are, you know, pretty upstanding. You know, if you're, if you're looking to buy real estate and know how to fund deals, you got to have some type of responsibility to you, right. And some people will lose and get themselves in trouble. But he doesn't lend a brand new investors, he's only lending to people that have done five or 10 deals. And if you can successfully show the HUDs on five deals, you're probably doing okay. Right. And now you're safe. You're safe borrower. And, and so that's what he does. You know, I don't he does. He has over 300 notes out at a

Joseph Williams: 28:02

damp okay. Yeah. When I first started out, I was to this day, I've not used hard money or private money, right? I've tried to bankroll everything I can. I recently worked with the local community bank to get a uncollateralized credit line that I'm using personally. But like all those things that you said, Take track record, right, like you gotta be able to prove what you're doing what you're gonna say you're gonna do, and you're making money at it. But when I was first starting out, I was like, Oh, how many private money? How many private money? And I found a couple of guys and exactly what you said, this gentleman. I mean, they're doing so well that like both his kids went to, you know, VMI, Virginia Military Institute this and that college went to work for him, right. So like, they literally tore homes in Richmond, like on one day, a week, they dropped down to the beach to like the Hampton Roads area, they tour homes down there or like Wednesday, right? They assess them, they lend to what they want to and like he looked me dead my eye and said, we don't run out of money. That's awesome, right? So he's clearly got right from doing this over the last 30 years. And now he's brought two of his sons in and they were working full time with him. And like, they're the ones doing the tours and all of that. And I mean, that's what they do now. And it's the easiest money you can make. It's an investment that you literally is tangible. There's a physical piece of land there or a house, it's fully insured. But he forces you to buy his insurance policy through his agent, which God knows he's probably going to kick back somehow. Right? So it's insured if it burns out or whatever. And literally, he gets his money off the hood when it's sold. Right? Or he'll just foreclose on you. Or sell it or whatever. But yeah, and it's, it's another thing we talked about the speed of money, or the rotation of money. You know, for four months, it's this, which means, you know, it's really hard to get out in four months at April 8 Once you go over four months ago to 10%. And it's just a simple, simple model. That's it. There's no money upfront. He'll lend on pretty much almost 100% The deal, depending on who you are, but even if it's your first deal, it's really high loan to loan ratio there. And, yeah, so it's something that people should really think about if you got some cash, sitting around getting in the right community, and, and spending your money that way, versus having to run out to a property and put a mailbox on because it's on the market on Tuesday, or whatever it might be. So we talked about education when you first started out what were like your main was there any books or podcasts that really, you know, took you to the next level and started to build your confidence?

Jon Schoeller: 30:39

Yeah, I mean, you got the tried and true Rich Dad, Poor Dad, a real good one for me is how to win friends and influence people. I think networking is probably one of the biggest, if not the biggest skill you can have when it comes to business in general. You know, Grant Cardone he Yeah, he's he's wishy washy for me, but I liked I liked it like his tenants book. So yeah, I mean, those those right there, those three gets you started. I'm huge on being financially financially savvy. So the richest man in Babylon. I love that book. Yeah, I'm, I'm frugal, and always will be. You know, I think that I thought that the more income I had, the more money I had, the less frugal I will be. But I think it's, I think it's a skill set almost. And it got me here. And so I'm not going to just drop it. And so my name on Instagram is the frugal investor. Yeah. So that's,

Joseph Williams: 31:29

yeah, for sure. Yeah, the frugal investor. And that kind of leads us into where can people find out more about you? I know, you've got YouTube channel, Instagram, what else do you got going on?

Jon Schoeller: 31:41

So yeah, actually, the biggest thing I've pitched on lately, because I think you can help the most people was my wife and I started a discord called more than money. And you can find it through Patreon is 25 bucks a month, and you get access to us through a forum. But we also go live about twice a week. And we just talk about money, real estate investing, budgeting, saving relationships, and finance. And we just teach people how we reach financial freedom in our 30s. And we want to teach you how to help people help more people get there, you know, each one teach one. But if you also want to find just some of my social media content, YouTube, John shoulder, you know, I just passed 13,000 subscribers. So that's kind of growing for me. And then on Instagram, the frugal investor?

Joseph Williams: 32:22

Yeah, definitely. And that's how I found you. John has some great content out there, as YouTube videos are getting 1000s and 1000s of views. It's not like there's four people watching it. So he's definitely doing something that's beneficial to the real estate community, and people are learning from him. He also might real quickly tell you about touring abandoned Caribbean resorts. So what was that on? And what was the story behind that?

Jon Schoeller: 32:47

So yeah, we were, we just went to the Virgin Islands for two weeks. And we were in St. John and St. Thomas. We split it up. And we got to St. Thomas. And next door to our resort was this humongous resort, over 300 rooms. It just looks like it's sitting there, nobody's there. And you can actually walk to it if you scaled down our beach and walked over some rocks. And I was like, You know what I told her homes on my YouTube before that, so why not do a resort tour. And there was no No Trespassing signs. So we walked through, not the whole thing. We didn't have time for that. We walked through a majority of it and toured it, and the videos up and it's crazy that it just looked like it was somebody hit the pause button and walked away. It's

Joseph Williams: 33:25

crazy. Yeah. So if you're looking for that, that will story, the frugal investor on Instagram, the link tree on there that I'll link in Noah's YouTube and all that stuff. We'll definitely link it in the show notes as well in the podcast notes. But just to kind of end it on a something we've touched on a couple of spots within our talk here is, you know, freedom. And that's what allowed you to go for that two week vacation in the Virgin Islands, right? being frugal, not buying the newest Gucci bag not going out and getting your brand new car every three years, things like that compound over time, and allow you to start investing. And there's a lot of a lot of ways out there to invest. We've talked about a bunch, there's a lot of ways to make money when it comes in real estate. But at the end of the day, it's about being financially free, which allows you to you know, not call on your nine to five and explore or do whatever you want me to put time play golf or whatnot. So, you know, we thank You today, John, go visit all of his YouTube Instagram page. I think it's even got a tick tock to link in to all that. There's an exciting content not only about houses, but about ways to save money, and then check out his page bill. I think there's a lot of people that can benefit from just a lot little financial knowledge, something that our school system does not do that great of a job and teaching our kids nowadays. So thanks for your time, John. We'd love to have you here and Till we meet again. Thank you for listening to what Another amazing episode of your biggest deal, please like, subscribe and share with friends. And don't forget to tag your biggest deal on Facebook and Instagram to connect with Joseph Williams or for questions and feedback, visit your biggest deal.com Thank you for listening and learning now it's time to take action